2002. A. 18/8 stainless steel is nominally 18% chromium and 8% nickel, with the remainder being mainly iron; it does however also contain other elements, but at very low levels.It is also known as 302 or 304 grade stainless steel. This grade of stainless is generally regarded as one of the "workhorses" in stainless steel as it is widely available and cheap (relatively!).